Crown Crafts, Inc. (NASDAQ:CRWS) Sees Significant Drop in Short Interest

Crown Crafts, Inc. (NASDAQ:CRWSGet Rating) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 15,300 shares, a decrease of 27.8% from the April 15th total of 21,200 shares. Based on an average daily volume of 18,700 shares, the short-interest ratio is presently 0.8 days. Approximately 0.2% of the shares of the company are sold short.

Shares of CRWS stock opened at $6.04 on Friday. Crown Crafts has a 12 month low of $5.96 and a 12 month high of $8.25. The stock has a market cap of $60.88 million, a P/E ratio of 7.84 and a beta of 0.85. The company has a 50 day simple moving average of $6.37 and a two-hundred day simple moving average of $6.91.

Crown Crafts (NASDAQ:CRWSGet Rating) last announced its earnings results on Wednesday, February 9th. The textile maker reported $0.24 EPS for the quarter. Crown Crafts had a net margin of 9.25% and a return on equity of 18.12%. The business had revenue of $22.74 million during the quarter.

In related news, CEO E Randall Chestnut sold 13,300 shares of the stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $6.93, for a total transaction of $92,169.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 42,162 shares of company stock worth $289,494. 11.62% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Skylands Capital LLC increased its holdings in Crown Crafts by 3.6% during the first quarter. Skylands Capital LLC now owns 558,484 shares of the textile maker’s stock valued at $3,636,000 after buying an additional 19,400 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Crown Crafts by 2.7% in the first quarter. Vanguard Group Inc. now owns 288,743 shares of the textile maker’s stock worth $1,880,000 after purchasing an additional 7,491 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Crown Crafts by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 239,262 shares of the textile maker’s stock worth $1,558,000 after purchasing an additional 2,242 shares in the last quarter. Ardent Capital Management Inc. purchased a new stake in shares of Crown Crafts in the fourth quarter worth $1,721,000. Finally, BlackRock Inc. increased its stake in shares of Crown Crafts by 194.9% in the third quarter. BlackRock Inc. now owns 29,925 shares of the textile maker’s stock worth $222,000 after purchasing an additional 19,777 shares in the last quarter. 40.94% of the stock is owned by institutional investors and hedge funds.

Separately, DA Davidson reduced their target price on shares of Crown Crafts from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Wednesday, February 23rd.

About Crown Crafts (Get Rating)

Crown Crafts, Inc, through its subsidiaries, operates in the consumer products industry in the United States and internationally. It provides infant, toddler, and juvenile products, including infant and toddler beddings; blankets and swaddle blankets; nursery and toddler accessories; room décors; reusable and disposable bibs; burp cloths; hooded bath towels and washcloths; reusable and disposable placemats, and floor mats; disposable toilet seat covers and changing mats; developmental toys; feeding and care goods; and other infant, toddler, and juvenile soft goods.

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